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Azerbaijan Deposit Insurance Fund

What is insured deposit?

It is such a part of deposit that will be compensated by the Fund in the amount defined by Law "on deposit insurance" in case of insurance incident in the participant bank where a depositor is serviced

What is the amount of compensation paid to a depositor?

Starting March 2, 2016 deposits accepted by the Fund’s member banks with the annual interest rate 3 % in the foreign currency and 15 % in the national currency will be fully insured for 3 ( three) years.

Currencies in which compensation is paid in an insurance incident

In manats for the deposits in national currency
In USD or EUR according to the currency of the deposit for the deposits in USD and EUR deposits
For deposits denominated in other foreign currencies compensation shall be paid in USD or EUR based on the official exchange rates defined by the Central Bank.


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Executive Board

       

Azad Javadov


Executive director

He was born in 1964 in Azerbaijan.

He graduated from faculty of Financial and Credit in branch of Azerbaijan Financial and Economic University by Vaznisenk in 1983-1988 and he is Ph.D.

He began his job activity as an economist in Budget, Credit department of House Communal bank of Azerbaijan Republic in 1988. In 1990 he was an economist in Accounting and reporting department of State bank of Azerbaijan Republic.

Economist, head of section and deputy of chairman department in National bank of Azerbaijan Republic in 1992-1995.

Deputy of senior accountant, senior accountant, Director of Treasury Department and chief of branch of International bank of Azerbaijan Republic in 1995-2001

Chairman of the board of AtaBank OJSC in 2002-2004

Deputy of chairman of the board of AtaHolding OJSC

The member of the Supervisory Board of AtaHolding, AtaBank, AtaInsurance and AtaLeasing in 2005-2006.

The member of the Supervisory Board of AtaHolding, The Chairman of the Supervisory Board of AtaBank, AtaInsurance and AtaLeasing until March, 2007

He was appointed as an Executive Director of Deposit Insurance Fund in June, 2007.

In June, 2012 he was reappointed as an executive director of Azerbaijan Deposit Insurance Fund for 5 years.

In 2012 he was appointed as the chairperson of EARC for the years 2012-2014.

       

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